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Invesco cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$443M in Q3 2026 · $1.8B over twelve months

Operating cash flow$475M
Capital spending−$32.2M
Free cash flow+$443M
Cash / net income1.3×

Analysis

In Q3 2026, Invesco generated $475M of operating cash flow and spent $32.2M on capital projects, leaving free cash flow of $443M. That is $144M less than in Q3 2025 ($586M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.9B; the largest uses were other investing ($1.4B), dividends ($385M), buybacks ($220M); besides operations, cash came from net borrowing (+) / repaid (−) ($393M), other financing ($84.2M); the cash balance rose by $231M.

Operating cash flow was $475M against net income of $356M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: receivables −$69.0M, other non-cash +$38.9M, depreciation & amortization +$31.6M.

Free cash flow

Invesco: free cash flow by quarterInvesco: free cash flow by quarter$324MQ4 2024−$108MQ1 2025$530MQ2 2025$586MQ3 2025$432MQ4 2025$198MQ1 2026$704MQ2 2026$443MQ3 2026
Operating cash flow less capital spending.
Invesco: operating cash flow against capital spendingInvesco: operating cash flow against capital spendingOperating cash flowCapital spending$317M−$7.0MQ4 2024−$84.6M$23.4MQ1 2025$548M$17.5MQ2 2025$606M$19.8MQ3 2025$456M$23.6MQ4 2025$213M$14.2MQ1 2026$734M$30.5MQ2 2026$475M$32.2MQ3 2026
Latest (Q3 2026): Operating cash flow $475M, Capital spending $32.2M.

Capital allocation, year by year

Invesco: where the cash came from (up) and went (down), by fiscal yearInvesco: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $1.1BFY2021: Capital spending −$109MFY2021: Buybacks −$60.9MFY2021: Dividends −$308M$1.1BFY2021FY2022: Operating cash flow $703MFY2022: Net borrowing −$600MFY2022: Capital spending −$193MFY2022: Buybacks −$245MFY2022: Dividends −$335M$703MFY2022FY2023: Operating cash flow $1.3BFY2023: Capital spending −$164MFY2023: Buybacks −$188MFY2023: Dividends −$358M$1.3BFY2023FY2024: Operating cash flow $1.2BFY2024: Net borrowing −$600MFY2024: Capital spending −$69.1MFY2024: Buybacks −$79.3MFY2024: Dividends −$372M$1.2BFY2024FY2025: Operating cash flow $1.5BFY2025: Net borrowing $1.4BFY2025: Asset sales $236MFY2025: Capital spending −$84.3MFY2025: Buybacks −$124MFY2025: Dividends −$377M$3.2BFY2025
Over these 5 years operating cash flow totalled $5.8B; the largest uses were dividends ($1.7B) and net borrowing ($1.2B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$966M
Debt$1.3B
Net debt$316M

Invesco funds itself: free cash flow was $1.8B over the last twelve months, and $966M of cash and investments stands against $1.3B of debt.

Where the cash came from and went

Invesco: sources (+) and uses (−) of cash, Q3 2026Invesco: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$475MNet borrowing (+) / repaid (−)−$343MOther investing$325MCash drawn (+) / kept (−)−$133MOther financing−$119MDividends−$98.4MBuybacks−$75.0MCapital spending−$32.2MExchange rates$400K
Invesco: sources (+) and uses (−) of cash, TTM to Q3 2026Invesco: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.9BOther investing−$1.4BNet borrowing (+) / repaid (−)$393MDividends−$385MCash drawn (+) / kept (−)−$231MBuybacks−$220MCapital spending−$100MOther financing$84.2MExchange rates−$20.0M

From profit to cash

Invesco: net income to operating cash flow, Q3 2026Invesco: net income to operating cash flow, Q3 2026Net income$356MDepreciation & amortization$31.6MStock-based pay$26.6MOther non-cash$38.9MReceivables−$69.0MPayables−$3.0MOperating cash flow$475M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$475M−$32.2M−$75.0M−$98.4M−$343M−$133M$443M
Q2 2026$734M−$30.5M−$50.4M−$96.8M−$343M$94.1M$704M
Q1 2026$213M−$14.2M−$69.2M−$95.3M$641M$263M$198M
Q4 2025$456M−$23.6M−$25.8M−$94.6M$438M−$456M$432M
Q3 2025$606M−$19.8M−$29.2M−$95.0M—−$31.6M$586M
Q2 2025$548M−$17.5M−$25.5M−$95.2M−$74.0M$413M$530M
Q1 2025−$84.6M−$23.4M−$43.1M−$92.5M$74.0M−$373M−$108M
Q4 2024$317M$7.0M−$26.0M−$92.8M—$140M$324M

Invesco: income statement and cash flow

Invesco, Q3 2026: revenue $1.9B (+14% year over year), operating margin 23.3%. The chart follows the revenue to costs, profit and cash.

Invesco: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.